Developments in Money Market and Inter-bank Market (May 16 - 20, 2022)
1. Forex market and exchange rates:
During the week of May 16 - 20, 2022, the forex market and the USD/VND exchange rates were relatively stable, and the market liquidity was ensured for smooth operations. On May 16, the buying and selling exchange rates quoted on the website of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) were at VND 22,950/23,230 per USD, unchanged as compared with the rates of the last working day of the previous week (May 13, 2022). By end of May 20, the exchange rates were quoted at VND 23,030/23,310 per USD, up by 80 VND per USD as compared with the rates of May 16, 2022.
2. Inter-bank transaction operations:
2.1. Transactions:
According to the reports submitted by the credit institutions and the foreign bank branches, the total amount of transactions in the inter-bank market within the week reached approximately VND 1,049,032 billion, an average of VND 209,806 billion per day, a decrease of VND 24,269 billion per day as compared to the previous week (May 09 - 13, 2022); meanwhile the transaction amount in USD was equivalent to VND 232,268 billion, an average of VND 46,454 billion per day, a decrease of VND 4,721 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 90% and 4% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 82% and 7% of the total amount of USD transactions respectively.
2.2. Inter-bank interest rates:
- For transactions in VND: The average inter-bank interest rates decreased as compared to those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 1.72% p.a., 2.09% p.a., and 2.6% p.a. respectively.
- For transactions in USD: The average inter-bank interest rates experienced slight fluctuations as compared to those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.87% p.a., 0.97% p.a., and 1.19% p.a. respectively.
The specific average inter-bank interest rates were as follows:
Unit: % p.a
Overnight |
1-week |
2-week |
1-month |
3-month |
6-month |
9-month |
|
VND |
1.72 |
2.09 |
2.29 |
2.60 |
2.83 |
3.80 |
3.84 |
USD |
0.87 |
0.97 |
1.13 |
1.19 |
1.46 |
2.78 |
- |
Translated by LK.